Formula 1 Jet Ski event hits rough seas

The much-hyped Formula One jet ski race, scheduled to be held on October 24 and 25 at H20 water sports complex, Mumbai, is in jeopardy after a sponsor pulled out from the event. It could either be postponed to October 30 and 31 or cancelled.

According to information received by this paper, the organisers are in cash crunch and are running from pillar to post raise over Rs 20 lakh in less than 24 hours.

“We need money to host the competitors. If the money is not raised by tonight we may have to cancel the event,” an official, connected to the event, told DNA.

It is learnt that one of the two sponsors has disappeared and the cheque which was given to the organisers has bounced.

Nine international teams from Belgium, Spain, Luxemborg, Chile Peru, Uruguay, Italy, Brazil and Argentina are to compete for the Indian Jet Sports Academy Champions Cup 2009. Nine competitors are to arrive in the city on Wednesday night and it is learnt that the organisers have run out of money to even provide them the accommodation.
Late in the night, there were unconfirmed reports that the organisers have found a sponsor but it could not be confirmed.